VISA Survey of 1,000 Korean Adults
Tap to Pay Like a Transportation Card
Interest Rises Due to Convenience, Speed, and Hygiene
A survey revealed that most adults plan to use 'contactless cards,' which allow payment without physical contact like transportation cards, within a year.
On the 28th, the global payment technology company Visa announced that it conducted a 'Contactless Payment Consumer Awareness Survey' targeting 1,000 men and women aged 20 to 59 in Seoul, Gyeonggi Province, and five major metropolitan cities, yielding these results.
Through the survey, Visa examined ▲payment method usage behavior, ▲awareness of contactless cards, ▲experience of use, ▲intention to use, and ▲intention to issue such cards.
The results showed that the most commonly used payment methods among respondents were physical credit cards (36.7%), mobile pay (30.1%), and physical debit cards (22.4%). Among these, only about 10% possessed a physical contactless card. Of those, approximately 81% had used contactless payments and cited fast payment speed and better hygiene compared to traditional card payment methods as advantages.
70% Intend to Use Contactless Cards Within One Year
The intention and expectations for using contactless cards were also high. Seventy percent of respondents said they intend to use contactless cards within one year. About 90% stated that they would request a card with contactless functionality when issuing a new card in the future. More than 90% said that if they had a contactless card, they would use the ‘Tap to Pay’ method, which allows payment simply by bringing the card close to the terminal. Additionally, respondents indicated a willingness to spend an average of approximately 660,000 KRW per month using a physical card capable of contactless payment.
Notably, 83% of all respondents said they would use contactless cards when traveling abroad. Among those planning overseas trips (72%), there was a strong intention to use contactless cards. The group planning overseas travel showed a higher willingness to use contactless cards compared to those not planning trips. This tendency increased as the travel date approached. Furthermore, 90.5% of respondents expressed a desire to obtain contactless cards if they could be used on public transportation abroad.
Convenience and Speed Receive Positive Feedback
The main reasons for using contactless cards were payment convenience (46%) and fast payment speed (18%). This is interpreted as respondents finding payments simpler and faster because the process of taking out and inserting the card is omitted. Following these were hygiene (13%) and security safety (9%).
Patrick Story, President of Visa Korea, stated, "This awareness survey confirmed that domestic consumers have a strong intention to use contactless cards. As interest in EMV-based Near Field Communication (NFC) payments and contactless payments is growing in Korea, we are actively cooperating with domestic customers and partners to build a safer, faster, and more convenient payment environment."
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